The oleochemicals industry is a vital segment of the global economy, utilizing natural fats and oils as feedstock to produce a wide range of products, from surfactants and lubricants to cosmetics and biodegradable plastics. As the demand for sustainable and eco-friendly alternatives to petrochemical products continues to rise, entrepreneurs are increasingly turning their attention to oleochemicals as a promising business opportunity. Whether you are a seasoned business professional or a newcomer to the industry, starting an oleochemicals venture requires a solid understanding of the market landscape, regulatory considerations, and production processes. In this article, we will explore the essential steps needed to establish a successful oleochemicals business, highlighting key factors such as market research, sourcing raw materials, and building a robust supply chain. With the right knowledge and strategy, you can tap into this growing field and contribute to a more sustainable future.

The global oleochemicals market has experienced significant growth over the past few years and is projected to continue expanding in the coming years. As of 2023, the market is valued at approximately USD 30 billion, with forecasts suggesting it could reach around USD 50 billion by 2030, growing at a compound annual growth rate (CAGR) of about 7% during the forecast period. This growth can be attributed to the increasing demand for bio-based products, driven by the rising consumer preference for sustainable and eco-friendly alternatives to petrochemical-derived products. Key segments within the oleochemicals market include fatty acids, fatty alcohols, glycerol, and soap noodles, which serve various industries such as personal care, cosmetics, food and beverage, pharmaceuticals, and industrial applications. The personal care and cosmetics segment is particularly notable, as consumers increasingly seek natural ingredients that align with their health and environmental values. Geographically, Asia-Pacific dominates the oleochemicals market, primarily due to the presence of large-scale manufacturers and a growing population that demands consumer goods. Countries like Indonesia and Malaysia are significant producers of palm oil, which is a primary feedstock for oleochemicals. Meanwhile, North America and Europe are also substantial markets, driven by stringent regulations promoting the use of biodegradable and renewable materials. The oleochemicals market is poised for innovation, with advances in technology and production processes enhancing efficiency and sustainability. As companies strive to meet changing regulations and consumer preferences, the oleochemicals sector is likely to see increased investment and development, making it a promising area for new business ventures. Entrepreneurs looking to enter this market should be aware of the competitive landscape, potential supply chain challenges, and the importance of establishing partnerships with suppliers and customers across various industries.

Identifying the target market is a crucial step for any oleochemicals business. Oleochemicals, derived from natural fats and oils, have a wide range of applications across various industries, making it essential to understand the specific segments that can benefit from these products. The primary target markets for oleochemicals include:
1. Personal Care and Cosmetics: This sector utilizes oleochemicals in the formulation of soaps, shampoos, lotions, and creams. Ingredients like fatty acids and glycerin are popular for their moisturizing properties and are often preferred over synthetic alternatives due to their natural origins.
2. Food Industry: Oleochemicals find applications as food additives, emulsifiers, and stabilizers. They are used in the production of margarine, bakery products, and confectionery, appealing to manufacturers looking for natural and sustainable options.
3. Pharmaceuticals: The pharmaceutical industry employs oleochemicals in the formulation of drug delivery systems, excipients, and active pharmaceutical ingredients (APIs). Their biocompatibility and safety make them ideal for various medicinal applications.
4. Agriculture: In agriculture, oleochemicals serve as surfactants and emulsifiers in pesticides and herbicides. The growing demand for environmentally friendly agricultural practices creates a significant market opportunity for natural oleochemical products.
5. Plastics and Polymers: Oleochemicals are increasingly being used as biodegradable alternatives to petrochemical-derived materials in the production of plastics and polymers. This emerging market aligns with the global shift towards sustainability and eco-friendly products.
6. Household Products: Cleaning agents, detergents, and other household products often incorporate oleochemicals for their surfactant properties. This sector is driven by consumer demand for green cleaning products that are effective yet less harmful to the environment.
7. Industrial Applications: Various industries, including textiles, paper, and rubber, utilize oleochemicals in their production processes. Understanding the specific requirements and trends within these sectors can help businesses tailor their offerings effectively. By focusing on these target markets, an oleochemicals business can develop specialized products and marketing strategies that address the unique needs and preferences of each segment. Conducting thorough market research will further help in identifying potential customers, understanding their purchasing behavior, and adapting to industry trends, ultimately leading to a successful venture in the oleochemicals space.

When considering the establishment of an oleochemicals business, it is essential to evaluate various business models that can effectively support operations and drive profitability. Oleochemicals are derived from natural fats and oils, and their applications span across multiple industries, including cosmetics, food, pharmaceuticals, and industrial products. The choice of business model can significantly influence the operational structure, market reach, and overall success of the venture.
1. Raw Material Sourcing and Processing: One fundamental model involves sourcing raw materials—such as palm oil, soy oil, or other vegetable oils—and processing them into oleochemicals. This model requires strong relationships with suppliers and a deep understanding of the supply chain. Companies can either focus on large-scale production to benefit from economies of scale or adopt a niche approach, specializing in high-quality or specialty oleochemicals that cater to specific market needs.
2. Product Diversification: Another effective model is the diversification of product offerings. By producing a range of oleochemicals, such as fatty acids, glycerin, and fatty alcohols, businesses can cater to various industries and reduce risks associated with market fluctuations. This model often involves investing in research and development to innovate and create new products that meet emerging consumer demands.
3. Vertical Integration: Companies can also consider vertical integration, where they control multiple stages of the supply chain—from raw material extraction to final product distribution. This model allows for greater control over production quality, cost management, and supply chain efficiency. It can be particularly advantageous in the oleochemicals industry, where raw material prices can be volatile.
4. Contract Manufacturing: For those looking to minimize capital investment, contract manufacturing can be an appealing option. In this model, businesses can partner with established manufacturers to produce oleochemicals under their brand or specifications. This approach reduces the need for substantial infrastructure while allowing companies to focus on marketing and sales.
5. Sustainability-Focused Model: As environmental concerns grow, a sustainability-focused business model can set a company apart. This could involve sourcing raw materials from certified sustainable sources, developing biodegradable products, or implementing green manufacturing processes. Companies that prioritize sustainability can attract environmentally conscious consumers and potentially command premium prices for their products.
6. B2B vs. B2C: Deciding whether to operate primarily in a business-to-business (B2B) or business-to-consumer (B2C) market also shapes the business model. B2B companies typically sell their products in bulk to manufacturers or distributors, while B2C companies may develop branded consumer products. Each path has distinct marketing strategies and operational requirements, influencing everything from pricing to distribution logistics.
7. E-commerce and Direct Sales: With the rise of digital platforms, e-commerce has emerged as a viable model for selling oleochemical products, especially for specialty or niche items. Companies can create online storefronts to reach consumers directly, bypassing traditional retail channels. This model requires an effective digital marketing strategy to drive traffic and conversions. By thoughtfully considering these various business models, aspiring entrepreneurs can determine the best approach for their oleochemicals business, aligning their operational capabilities with market opportunities and consumer demands.

In the oleochemicals industry, the competitive landscape is characterized by a mix of established players and emerging startups, each vying for market share in a sector driven by increasing demand for sustainable and bio-based products. Major chemical companies such as BASF, Unilever, and Cargill dominate the market, leveraging their extensive resources, established supply chains, and existing customer relationships. These companies benefit from economies of scale, allowing them to offer competitive pricing and a wide range of products, including fatty acids, glycerin, and surfactants. However, the rise of sustainability and eco-friendly consumer preferences has led to the emergence of smaller, niche players who focus on specific segments of the market. These companies often emphasize innovation and sustainable practices, targeting consumers and businesses looking for greener alternatives to traditional petrochemical products. Many of these startups are agile and can quickly adapt to changing market demands, positioning themselves as viable competitors to larger firms. The competitive landscape is also influenced by the geographic distribution of production and resources. Regions rich in natural oils, such as Southeast Asia, are home to many oleochemical manufacturers, which benefits from lower raw material costs. This regional concentration can create competitive advantages for companies operating in these areas, but it also means that new entrants must contend with established local players who have deep market knowledge and customer relationships. Technological advancements play a significant role in the competitive dynamics of the oleochemicals market. Companies investing in research and development can differentiate their products through improved performance characteristics, enhanced sustainability, and innovative applications. Collaborations between industry players and research institutions are becoming increasingly common, as firms seek to leverage cutting-edge technologies to gain a competitive edge. Regulatory factors also shape the competitive landscape. As governments around the world implement stricter environmental regulations and promote sustainable practices, companies that can quickly adapt to comply with these standards will have a significant advantage. Conversely, firms that lag in sustainability initiatives may find themselves at a competitive disadvantage. Overall, the oleochemicals industry presents a dynamic competitive environment where both established players and new entrants can thrive. Success in this market will depend on a company’s ability to innovate, adapt to consumer trends, and navigate the complexities of sustainability and regulatory compliance.

When embarking on an oleochemicals business, it is crucial to navigate the complex landscape of legal and regulatory requirements that govern the industry. These regulations are in place to ensure safety, environmental protection, and fair competition. Here are the key areas to consider:
1. Business Registration and Licensing: Before commencing operations, entrepreneurs must register their business with the appropriate governmental bodies. This typically includes selecting a business structure (e.g., sole proprietorship, partnership, corporation) and obtaining the necessary licenses and permits. Depending on the location, specific licenses may be required for manufacturing and selling oleochemicals.
2. Environmental Regulations: Oleochemical production can have significant environmental impacts, making compliance with environmental laws essential. Businesses must adhere to regulations set forth by agencies such as the Environmental Protection Agency (EPA) in the United States or equivalent authorities in other countries. This may involve obtaining permits for emissions, waste management, and water usage, as well as conducting environmental impact assessments.
3. Health and Safety Standards: Worker safety is a paramount concern in the oleochemical industry. Businesses must comply with Occupational Safety and Health Administration (OSHA) regulations in the U.S. or similar organizations elsewhere. This includes ensuring that proper safety protocols are in place, providing safety training for employees, and maintaining a safe working environment to minimize hazards associated with chemical processing.
4. Chemical Regulations: The production and sale of oleochemicals are subject to various chemical regulations, including the Toxic Substances Control Act (TSCA) in the U.S. and the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) regulation in the European Union. Companies must register their chemicals, assess their safety, and ensure that they do not pose undue risks to human health or the environment.
5. Quality Standards and Certifications: Adhering to industry-specific quality standards is vital for gaining market trust and ensuring product safety. Certifications such as ISO 9001 (Quality Management Systems) and ISO 14001 (Environmental Management Systems) can enhance credibility. Additionally, specific certifications may be required for products intended for food, cosmetics, or pharmaceuticals.
6. Intellectual Property Protection: If the business involves proprietary processes or formulations, it’s important to consider intellectual property protection. This can include patents for unique processes or trademarks for branding. Engaging with a legal professional specializing in intellectual property can help safeguard innovations.
7. Trade Regulations and Export Compliance: If the business intends to operate internationally, it must comply with trade regulations and export controls. This includes understanding tariffs, trade agreements, and any specific regulations that apply to chemical exports.
8. Local and Regional Regulations: Lastly, it is essential to be aware of local and regional regulations that may impact the oleochemical business. These can vary significantly by jurisdiction and may include zoning laws, local environmental regulations, and industry-specific guidelines. Navigating the legal and regulatory framework can be complex, and businesses should consider consulting with legal experts or regulatory consultants to ensure full compliance and to avoid potential legal pitfalls. By addressing these requirements early in the planning process, entrepreneurs can establish a solid foundation for their oleochemicals business, positioning it for success in a competitive marketplace.

When embarking on the journey to establish an oleochemicals business, securing adequate financing is crucial for success. Given the capital-intensive nature of the industry, entrepreneurs must explore various funding options to support initial investments, operational costs, and future growth. Here are some viable financing avenues to consider:
1. Personal Savings: Many entrepreneurs start by utilizing their personal savings to fund the initial phases of their business. This option allows for greater control and reduces the need for external debt. However, it also carries personal financial risk.
2. Family and Friends: Raising funds from family and friends can be a quick and accessible way to gather initial capital. Though this route may involve less formal agreements, it is essential to approach it professionally to avoid potential conflicts or misunderstandings.
3. Bank Loans: Traditional bank loans are a common financing option for small to medium-sized businesses. With a solid business plan, good credit history, and collateral, entrepreneurs can secure loans with reasonable interest rates. It’s important to compare different lenders to find the best terms available.
4. Government Grants and Subsidies: Many governments offer grants, subsidies, or low-interest loans to support the development of businesses in the chemical sector, especially those focusing on sustainability. Researching available programs at local, state, and national levels can uncover valuable financial support.
5. Venture Capital and Private Equity: For businesses with strong growth potential, attracting venture capital or private equity investment can provide significant funding. These investors often seek equity stakes in exchange for their investment and can also offer valuable industry expertise and connections.
6. Crowdfunding: Online crowdfunding platforms have gained popularity as a means to raise capital. Entrepreneurs can present their business concept to potential backers, offering incentives or rewards in exchange for their contributions. This method not only raises funds but also builds a community of supporters.
7. Trade Credit: Establishing good relationships with suppliers can lead to trade credit arrangements, allowing businesses to acquire raw materials and pay for them later. This can help manage cash flow, especially in the early stages of the business.
8. Angel Investors: Angel investors are individuals who provide capital for startups in exchange for equity or convertible debt. They can be a valuable source of funding, particularly for innovative projects in the oleochemicals sector.
9. Business Incubators and Accelerators: Joining a business incubator or accelerator can provide not only funding but also mentorship, networking, and access to resources. These programs often support startups focusing on sustainability and innovation within the chemical industry.
10. Strategic Partnerships: Forming partnerships with established companies in the oleochemical supply chain can lead to joint ventures or co-financing opportunities. Such collaborations can leverage existing resources and expertise to mitigate financial risks. By exploring these diverse financing options, aspiring entrepreneurs can secure the necessary capital to launch and grow their oleochemicals business effectively. Each option comes with its own set of advantages and challenges, so it is essential to assess which combination aligns best with the business strategy and goals.

When launching an oleochemicals business, effective marketing and sales strategies are crucial for establishing a strong market presence and driving revenue growth. Here are several approaches to consider:
1. Market Research and Target Audience Identification: Begin with thorough market research to identify potential customers and understand their needs. Segment the market into various categories, such as personal care, food, pharmaceuticals, and industrial applications. This allows you to tailor your marketing strategies to meet the specific requirements of each segment.
2. Brand Development: Create a strong brand identity that resonates with your target audience. This includes designing a memorable logo, developing a consistent messaging strategy, and establishing a unique value proposition. Highlight the benefits of your products, such as sustainability, performance, and cost-effectiveness, to differentiate your brand from competitors.
3. Digital Marketing: Leverage digital channels to reach a broader audience. Develop a professional website that showcases your products, provides detailed information, and includes customer testimonials. Utilize search engine optimization (SEO) to improve your website’s visibility and drive organic traffic. Engage in content marketing by publishing articles, case studies, and white papers that demonstrate your expertise in oleochemicals.
4. Social Media Engagement: Utilize social media platforms to connect with potential customers and industry professionals. Share valuable content, such as industry news, product updates, and educational posts, to build a community around your brand. Use targeted advertising on platforms like LinkedIn and Facebook to reach specific demographics.
5. Networking and Partnerships: Attend industry trade shows, conferences, and networking events to build relationships with potential customers and partners. Collaborate with other businesses, suppliers, and distributors to expand your market reach. Establish partnerships with research institutions or universities for product development and innovation.
6. Sales Strategy Development: Create a clear sales strategy that outlines your approach to reaching customers. This could include direct sales, online sales, or distribution through third-party retailers. Train your sales team on product knowledge and effective selling techniques to ensure they can communicate the value of your products effectively.
7. Customer Relationship Management (CRM): Implement a CRM system to manage customer interactions and track sales leads. This enables personalized communication and helps maintain long-term relationships with customers. Regular follow-ups and feedback collection can improve customer satisfaction and loyalty.
8. Sustainability Messaging: Given the growing emphasis on sustainability, highlight the eco-friendly aspects of your oleochemical products. Use certifications, such as biodegradable or non-toxic labels, to reinforce your commitment to environmental responsibility. Share your sustainability initiatives in marketing materials to appeal to environmentally conscious consumers.
9. Pricing Strategy: Develop a competitive pricing strategy that reflects the quality of your products while remaining attractive to your target market. Consider offering volume discounts or loyalty programs to encourage repeat business and bulk purchases.
10. Measuring Success: Regularly assess the effectiveness of your marketing and sales strategies through key performance indicators (KPIs) such as sales growth, customer acquisition costs, and website traffic. Use this data to refine your approach and make informed decisions about future marketing efforts. By implementing these strategies, you can effectively market your oleochemicals business and establish a solid foundation for growth in a competitive landscape.

In the oleochemicals industry, efficient operations and logistics are crucial for ensuring that production processes run smoothly and that products reach customers promptly. Here are key considerations for establishing robust operations and logistics in an oleochemical business. Supply Chain Management The foundation of any oleochemical business is its supply chain, which involves sourcing raw materials such as palm oil, coconut oil, and other natural fats and oils. Establishing strong relationships with reliable suppliers is essential to ensure the consistent quality and availability of these inputs. It is advisable to negotiate long-term contracts with suppliers to stabilize prices and secure supply. Production Facilities Choosing the right location for production facilities is critical. Consider proximity to raw material sources, transportation infrastructure, and access to markets. Facilities should be equipped with state-of-the-art machinery for refining, fractionation, and saponification processes that convert raw materials into value-added oleochemical products. Compliance with health, safety, and environmental regulations is paramount, as the oleochemicals industry can involve hazardous materials and processes. Inventory Management Efficient inventory management practices help balance supply and demand, minimizing excess stock and reducing holding costs. Employing just-in-time (JIT) inventory systems can optimize storage needs and ensure that raw materials and finished products are available when needed. Implementing inventory management software can aid in tracking stock levels, monitoring expiration dates, and forecasting future needs based on market trends. Logistics and Distribution Effective logistics strategies are vital for the timely delivery of products to customers. This includes the transportation of raw materials to manufacturing sites and the distribution of finished products to various markets. Collaborating with logistics partners who specialize in chemical transport can enhance efficiency and compliance with safety regulations. Consideration should also be given to the choice of transportation modes—whether by road, rail, or sea—based on cost, speed, and accessibility. Quality Control and Assurance Implementing rigorous quality control measures throughout the production process ensures that the final products meet industry standards and customer expectations. Establishing a quality management system (QMS) can help in monitoring production parameters, conducting regular inspections, and maintaining documentation for traceability. Continuous improvement practices, such as Six Sigma or Total Quality Management (TQM), can further enhance operational efficiency. Sustainability Practices As sustainability becomes increasingly important in the oleochemicals sector, integrating eco-friendly practices into operations can provide a competitive edge. This includes sourcing raw materials from sustainable suppliers, minimizing waste, and implementing energy-efficient technologies in production. Additionally, developing a product line that focuses on biodegradable and renewable oleochemicals can appeal to environmentally conscious consumers and businesses. Technology and Automation Investing in technology and automation can streamline operations, improve efficiency, and reduce labor costs. Automated systems for production monitoring, data analysis, and reporting can facilitate faster decision-making and enhance productivity. Embracing Industry 4.0 technologies, such as IoT and AI, can also provide real-time insights into operational performance, enabling proactive management of processes. By focusing on these critical aspects of operations and logistics, entrepreneurs can establish a solid foundation for their oleochemicals business, enabling it to thrive in a competitive marketplace.

In establishing an oleochemicals business, human resources and management play a critical role in ensuring smooth operations and fostering a productive workplace environment. The success of the venture largely depends on the ability to recruit, train, and retain skilled personnel, as well as to implement effective management practices. First, it's essential to define the organizational structure of the business. This includes identifying key roles and responsibilities across various departments such as production, quality control, research and development, sales, marketing, and finance. A clear hierarchy and workflow will facilitate better communication and decision-making processes. Next, recruitment strategies should focus on attracting top talent with relevant experience in the chemical industry and oleochemicals specifically. This may involve creating job descriptions that outline the necessary qualifications and skills, utilizing industry-specific job boards, and leveraging professional networks. Building a diverse workforce can also enhance creativity and innovation within the company. Training and development programs are crucial for ensuring that employees are well-versed in the latest technologies and safety protocols. Regular workshops and certifications can help staff stay updated on industry standards and regulatory requirements. Effective onboarding processes will also ensure new hires are integrated smoothly into the company culture and understand their roles within the organization. Moreover, fostering a positive workplace culture is vital for employee satisfaction and retention. This includes promoting collaboration, encouraging feedback, and recognizing achievements. Implementing a performance management system can help set clear expectations and provide regular evaluations to guide employee development. In terms of management practices, adopting a strategic approach can help align the workforce with the company's goals. This involves setting measurable objectives, utilizing data-driven decision-making, and encouraging innovative thinking among employees. Regular communication from management regarding the company's vision and progress will keep the team engaged and motivated. Finally, considering legal and regulatory compliance in human resources is essential. This includes understanding labor laws, workplace safety regulations, and environmental guidelines that impact the oleochemicals industry. Establishing HR policies that comply with these regulations will not only protect the business but also create a safe and respectful work environment. By focusing on these aspects of human resources and management, an oleochemicals business can build a strong foundation that supports growth, innovation, and long-term success in a competitive marketplace.

In conclusion, embarking on a venture in the oleochemicals industry presents a promising opportunity for entrepreneurs seeking to tap into the growing demand for sustainable and biodegradable products. By conducting thorough market research, understanding the regulatory landscape, and establishing strong supplier and customer relationships, you can position your business for success. Additionally, investing in the right technology and maintaining a focus on innovation will help you stay competitive in this evolving market. As the world increasingly shifts toward eco-friendly solutions, an oleochemicals business not only has the potential for profitability but also contributes positively to environmental sustainability. With careful planning and execution, you can build a thriving enterprise that meets the needs of consumers while promoting a greener future.

A business plan is a critical tool for businesses and startups for a number of reasons
Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the mark
et.Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
Business plans allow you to position your brand by understanding your company’s role in the marketplace.
Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.

Many people struggle with drafting a business plan and it is necessary to ensure all important sections are present in a business plan:Executive Summary
Company Overview
Industry Analysis
Consumer Analysis
Competitor Analysis & Advantages
Marketing Strategies & Plan
Plan of Action
Management Team
The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at info@avvale.co.uk . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.

To complete your perfect oleochemicals business plan, fill out the form below and download our oleochemicals business plan template. The template is a word document that can be edited to include information about your oleochemicals business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

With the growth of your business, your initial goals and plan is bound to change. To ensure the continued growth and success of your business, it is necessary to periodically update your business plan. Your business plan will convert to a business growth plan with versions that are updated every quarter/year. Avvale Consulting recommends that you update your business plan every few months and practice this as a process. Your business is also more likely to grow if you access your performance regularly against your business plans and reassess targets for business growth plans.